March 09, 2012 8:50am EST
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MIAMI & JUPITER, Fla.--(BUSINESS WIRE)--
OPKO Health, Inc. (NYSE: OPK) and The Scripps Research Institute today
announced a global agreement for the development and commercialization
of SR 3306, a novel compound discovered by scientists from the Florida
campus of The Scripps Research Institute that blocks the destruction of
brains cells in animal models of Parkinson’s disease. Under the terms of
the agreement, The Scripps Research Institute has granted to OPKO Health
exclusive worldwide rights to develop, manufacture and commercialize SR
3306 and related compounds that inhibit a class of enzymes called
jun-N-terminal kinsases (JNK) that play an important role in neuron
survival. The new compound, a small molecule known as SR-3306, would
potentially be the first to protect the brain from the ravages of
Parkinson's disease.
“This licensing agreement will help insure that the development of this
promising compound keeps moving forward,” said Scripps Research
Professor Philip LoGrasso, whose laboratory has led the research on the
compound to date. “This is one of the best opportunities we have for the
development of an effective neuroprotective treatment for Parkinson’s
patients.”
“We are excited to be working with Dr. LoGrasso and The Scripps Research
Institute to develop this important compound which could prevent the
progression of Parkinson’s disease and not just treat the symptoms of
the disease,” said Phillip Frost, M.D., Chairman and Chief Executive
Officer of OPKO. Parkinson's disease, a degenerative neurological
disorder that reduces the brain's ability to produce dopamine, affects
about one million Americans. Currently prescribed drugs for Parkinson’s
disease — including levodopa and so-called MAO-B inhibitors — can
counteract symptoms of the disease but not stop its progression.
SR-3306 was described in a pair of studies led by Dr. LoGrasso and
published in February 2011 in the journal ACS Chemical Neuroscience .
About The Scripps Research Institute
The Scripps Research Institute is one of the world's largest
independent, not-for-profit organizations focusing on research in the
biomedical sciences. Over the past decades, Scripps Research has
developed a lengthy track record of major contributions to science and
health, including laying the foundation for new treatments for cancer,
rheumatoid arthritis, hemophilia, and other diseases. The institute
employs about 3,000 people on its campuses in La Jolla, CA, and Jupiter,
FL, where it’s renowned scientists — including three Nobel laureates —
work toward their next discoveries. The institute's graduate program,
which awards Ph.D. degrees in biology and chemistry, ranks among the top
ten of its kind in the nation. For more information, see www.scripps.edu .
About OPKO Health, Inc.
OPKO is a multi-national biopharmaceutical and diagnostics company that
seeks to establish industry-leading positions in large and rapidly
growing medical markets by leveraging its discovery, development and
commercialization expertise and novel and proprietary technologies.
Any statements that are not historical facts contained in this
release are "forward-looking statements" as that term is defined under
the Private Securities Litigation Reform Act of 1995 (PSLRA), which
statements may be identified by words such as "expects," "plans,"
"projects," "will," "may," "anticipates," "believes," "should,"
"intends," "estimates," and other words of similar meaning, including
statements regarding the anticipated benefits and opportunities of SR
3306, such as statements about its ability to prevent the progression of
Parkinson’s disease, block the destruction of brain cells in patients
with Parkinson’s disease and protect the brain from the ravages of the
disease, as well as statements that SR 3306 represents one of the best
opportunities we have for the development of an effective
neuroprotective treatment for Parkinson’s patients. Many factors could
cause our actual activities or results to differ materially from the
activities and results anticipated in forward-looking statements. These
factors include those described in OPKO’s filings with the Securities
and Exchange Commission, and risks inherent in funding, developing and
obtaining regulatory approvals of new, commercially-viable and
competitive products and treatments. In addition, forward-looking
statements may also be adversely affected by general market factors,
competitive product development, product availability, federal and state
regulations and legislation, the regulatory process for new products and
indications, manufacturing issues that may arise, patent positions and
litigation, among other factors. The forward-looking statements
contained in this press release speak only as of the date the statements
were made, and neither OPKO or Scripps undertakes any obligation to
update forward-looking statements. We intend that all
forward-looking statements be subject to the safe-harbor provisions of
the PSLRA.
OPKO Health, Inc.
Steven D. Rubin, 305-575-6015
Source: OPKO Health, Inc.
Released March 9, 2012
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